Investigating present status of agar (Aquilaria malaccensis) cultivation in Bangladesh is necessary for sustainable economic development. The objective of this study was to document the existing agar cultivation technology especially modern technique for propagation and agarwood formation as well as potentiality as agroforestry component in Bangladesh compared to global standard. The paper was based on literature review and field experiences from Sylhet and Moulvibazar districts of Bangladesh. Since many research works were done on these issues but all are not available to the public in a systematic manner to date. This review study revealed that there was no modern artificial wounding technique available rather than conventional nailing technique, which was major reason behind the low quality and quantity of agarwood production in Bangladesh. This review paper also reported the latest potential technique of agarwood formation namely CA kits (Cultivated Agarwood Kits). In addition, agar is reported as potential agroforestry component in Bangladesh for its edaphic and climatic factors. There was no other modern technique of propagation except conventional propagation by seed in Bangladesh. Introduction of modern propagation and wounding technology eventually would help to achieve the SDGs through its all three dimensions (economic, environmental and social). This high valued crop would benefit rural people and contribute greatly to the economy of the region.